In 2002 a Community in the United States Passed a Beautification

question 49

Multiple Choice

In 2002 a community in the United States passed a beautification ordinance (law) prohibiting the placement of indoor furniture outside of homes (e.g. no couches on the porch) . The law represents a conflict between _____ and _____.

• A) the rich; the poor
• B) third parties; market participants
• C) victims; criminals
• D) public goods; private goods

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Definitions:

Preincorporation Contract

An agreement entered into on behalf of a corporation before it is legally formed.

Corporate Promoter

An individual or entity that undertakes the efforts to organize and establish a corporation, including arranging initial capital, legal requirements, and business plans.

Liable

Subject to legal responsibility or obligation, typically involving financial restitution.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another party, such as a trustee's duty towards a beneficiary.